Here's how much the top Wall Street banks have earned in fees this year
Reuters
It has been a miserable start to the year for Wall Street dealmakers.
Revenues from equity and debt deals and mergers and acquisitions have fallen off a cliff.
Industry-wide global investment banking revenue is down 36% from the first quarter of last year. Revenues are down in pretty much every single business line.
And JPMorgan has taken home the biggest chunk of a shrinking pie, according to Dealogic's preliminary league tables for the first quarter.
League tables are a contentious subject on Wall Street.
Banks use them when pitching for new business, and a good ranking means serious bragging rights.
But the league table-data can also be sliced up to make a bank's performance look better (by narrowing the field very narrowly, for example).
Though they're based on estimates, these tables are the broadest possible and a closely-watched indicator of who is up and who is down.
Here's how the banks stacked up this time around.
JPMorgan tops the table for total investment banking revenues.
DealogicJPMorgan has a 8.1% market share and $1 billion in total revenues for the year to March 23. It is followed closely by rival Goldman Sachs, with $899 million and a 7.0% share. Bank of America was in third place, with $854 billion.
Global investment banking revenue was $12.8 billion for the period, down 36% compared to the first quarter of 2015.
JPMorgan tops the table for M&A too.
DealogicJPMorgan is top of the table for M&A too, with $511 million in revenues, narrowly ahead of Goldman Sachs in second, with $499 million.
M&A revenue was a bright spot last year, but the market has slowed more recently. M&A fees are down 24% from the first year of 2015. M&A revenues across the industry stand at $4.4 billion, down from $5.8 billion.
And equity capital markets.
DealogicJPMorgan ranks top in equity capital markets too, ahead of Morgan Stanley and Goldman Sachs, which $187 million in fees.
Total ECM fees are down more than 50%, dropping from $5.2 billion to $2.3 billion.
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